The Ministry of Social Justice and Empowerment on Tuesday has extended the stand-up India scheme up to the year 2025. The scheme was launched by the Prime Minister on 05 April 2016.
The objective of the Stand Up India Scheme is to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per bank branch for setting up a green field enterprise in manufacturing, services or trading sector.
A total of 1,16,266 loans amounting to Rs. 26204.49 crore has been extended under the Scheme since its inception. The loan under Stand Up India Scheme is extended by Scheduled Commercial Banks (SCBs) between Rs. 10 lakh and Rs.1 Crore.